1. Unit 1: Management Today
Chapter 1: The Dynamic New Workplace

2. The New Economy!
There are 6 main challenges of working in the new economy. They are:
Intellectual Capital—the collective brainpower or shared knowledge of a workforce that can be used to create value. A knowledge worker adds to the intellectual capital of an organization. Eg. A computer technician is knowledgeable and will add value to a company integrating new technology

3. Globalization—is the worldwide interdependence of resource flows, product markets, and business competition that characterize the new economy. National boundaries have disappeared.
Technology—there is a continuous transformation of the modern workplace through the Internet, WWW, Computers, and Information Technology. There is a high demand for knowledge workers with the skills to use this technology.

4. Diversity—workforce diversity reflects differences with respect to gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness.
Ethics—society requires businesses to operate according to high moral standards. Code of moral principles and/or conduct.
Careers—the careers in the 21st century won’t be uniformly full-time and limited to a single large employer. Therefore, skills must be portable and always of current value.

5. Organizations and their Managers
What is an organization?
A collection of people working together to achieve a common purpose
To be classified as an organization, a business entity must satisfy these characteristics:
1-Purpose- to create a good and/or service
2-Division of Labour- different tasks assigned to different people
3-Hierarchy of authority- a level by level management structure of increasing responsibility

6. Using the three characteristics in the slide before, prove that these companies are in fact a form of an organization.
McDonalds
Sports Team
Family

7. Organizational Systems
Organizations are open systems that interact with their environments.
Examples of Feedback--

8. Managers What is a manager?
A person who is responsible for the work of others
Examples—CEO, supervisor, plant manager
Must co-ordinate human resources with material resources (information, raw materials) to produce goods and services
A manager’s responsibility is to obtain the highest level of performance for the least amount of inputs
Is a person that has the ability to get the most out their employees, makes them want to be better.

9. Managerial Levels
Upper Management
Middle Management
Lower Management

10. Upper Management
responsible for performance of an organization as a whole or for one of its larger parts.
establishes organizational objectives (Long Term)
Examples:
CEO, CFO, VP

11. Middle Management
Interpret direction from above and pass it on to those beneath them.
Report to top managers while being in charge of relatively large departments or divisions.
Examples:
Department Heads, Plant Manager, Human Resources

12. Lower Management
someone in charge of a small work group composed of non-managerial workers.
Examples:
Supervisor, Fore person, Assistant Manager

13. Glass Ceiling Effect:
An invisible barrier limiting career advancement of women and minorities.

14. Types of Managers Line………………………...vs…
Their work directly contributes to productions
Examples:
supervisors, CEO, plant manager.
Staff
Work in specialized areas such as marketing, accounting, human resources, legal departments...

15. Work for profit organizations (making money) Administrators
Managers…………….…..vs…
Work for profit organizations (making money)
Administrators
Work for non-profit or public organizations.
Examples:
Principal, Hospital Administrator

16. Responsible for a single area Examples: General
Functional……………..…vs…
Responsible for a single area
Examples:
accounting, engineering, marketing, human resources.
General
Responsible for complex areas - department store manager. (many different departments to oversee)

17. Lets see if we get it??

18. Managerial Roles 1-Planning: setting goals and how they will be met
2-Controlling: monitoring achievement
3-Organizing: arranging people, tasks, responsibilities, and resources
4-Leading: inspiring and motivating

19. Managerial Skills Technical skill Human skill Conceptual skill
the ability to apply a special proficiency or expertise to perform particular tasks.
E.g.-
Human skill
the ability to work well in cooperation with others.
E.g.
Conceptual skill
the ability to think critically and analytically to solve complex problems.